As noted in Mon’s analysis, the focus into Tue’s auction on response to Mon’s Unsecured Low, 44.32s, was key as Globex selling interest drove price through Mon’s Unsecured Low in Sellside continuation, developing a Gap Lower open, 43.34s, near our Avg Daily Range Low Expectation. Selling interest emerged early in NY, confirming the Gap, driving price modestly lower, achieving the Stopping Point Low, 42.94s, at the 1st Std Dev Low Expectation. Responsive buying interest emerged there, driving price higher in short covering inventory adjustment, closing at 43.51s.
Focus into Wed’s auction on response to Tue’s Stopping Point Low, 42.94s.
WTI Daily 19Jun17The Focus Into Tue 20Jun Centered Upon Response To Mon's Unsecured Low, 44.32s.
WTI Daily 20Jun17Tue's Auction Saw Globex Selling Interest Emerge, Driving Price Lower Through Mon's Low In A Sellside Breakdown, Developing A Gap Lower, 43.34s, Near Our Avg Daily Range Low Expectation. Selling Interest Emerged Early In NY, Driving Price Modestly Lower, Achieving The Stopping Point Low, 42.94s, At Our Daily 1st Std Dev Low Expectation Where Responsive Buying Interest Emerged Before Closing AT 43.51s.